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Journal : Media Riset Bisnis

KEINFORMATIFAN HARGA SAHAM DALAM KAITANNYA DENGAN EFISIENSI INVESTASI Bahtiar Usman
Media Riset Bisnis & Manajemen Vol. 6 No. 3 (2006): Media Riset Bisnis & Manajemen
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1088.157 KB) | DOI: 10.25105/mrbm.v6i3.1044

Abstract

According to the Efficient Market Hypothesis, greater firm specific stock price variation reflects higher intensity firm specific information capitalization in stock price. In this study we propose that higher firm specific price variation maybe an indicator of greater functional-form market efficiency. We regress PER (Price to Earning Ratio) as a proxy of efficiency of investment as a function of Y (Firm Specific Stock Price Variation) as a proxy of firm specific information capitalization in stock price. We provide new evidence that Indonesian Capital Market does not efficient yet because the result at 2003 and 2004 does not consistent. With coefficient determination (IV) only 25.27% show that we should include another explanatory variable to explain about investment efficiencyKeywords: Firm-Specific Stock Price Variation, Investment Efficiency, Efficient Market Hypothesis
TICK SIZE DAN KUALITAS PASAR DI BURSA EFEK JAKARTA Bahtiar Usman
Media Riset Bisnis & Manajemen Vol. 7 No. 2 (2007): Media Riset Bisnis & Manajemen
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1673.276 KB) | DOI: 10.25105/mrbm.v7i2.1052

Abstract

The purpose of this study is to analyze the impact of a tick size change announcement to capital market quality using data from firms listed in Bursa Effect Jakarta. Database classified firms by stock volume level and price level. Generally, there is no evidence to prove that a tick size change announcement have an influence to capital market quality, but for special case we can prove that a tick size change announcement tend to influence capital market quality: i.e for firm that have lower price stock, the reducing tick size announcement will decrease capital market quality and from regression result find that reducing tick size will also decrease capital market quality.Keywords: Announcements, tick size, capital market quality
PENGARUH TIPE-TIPE STRUKTUR KEPEMILIKAN DAN FAKTOR-FAKTOR FUNDAMENTAL TERHADAP KINERJA BEBERAPA BANK "BERMASALAH" DI INDONESIA: OBSERVASI TAHUN 19914997** Bahtiar Usman; Ignatius Roni Setyawan
Media Riset Bisnis & Manajemen Vol. 8 No. 2 (2008): Media Riset Bisnis & Manajemen
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1529.486 KB) | DOI: 10.25105/mrbm.v8i2.1066

Abstract

This research aims to analyze the effect of ownership types & fundamental factors toward bank performance in Indonesian case 1991-1997. The idea is derived from study of Rokhim (2006); which stated that banks with higher related lending will be more fragility. In that study, she identifies several fundamental factors such as Cost of Fund; Size and Net Open Position. Different with Rokhim (2006), we focus to the effect of ownership type toward bank performance. We argue that related lending couki be caused by ownership type. As we know from agency, theory, the more concentrated ownership the higher related lending. Three important findings of our research are as follow: 1) Ownership Type and Fundamental Factors have significant effect toward bank performance. It implies to support indirectly study of Rokhim (2006). 2) From eight variables of ownership type only family; foreign, Soeharto, Listed and Cross and three variables of Fundamental Factors, only cost respectively have a significant effect in level 5 % toward bank performance unless family. 3) Robustness test with GLS fixed effect has consistent result with OLS non data panel.Key words: bank performance; ownership type; fundamental factors